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    HomeNewsBusinessStocksBuy Indian Bank; target of Rs 130: Dolat Capital Market

    Buy Indian Bank; target of Rs 130: Dolat Capital Market

    Dolat Capital Market is bullish on Indian Bank has recommended buy rating on the stock with a target price of Rs 130 in its research report dated January 22, 2021.

    Broker Research
    January 27, 2021 / 15:05 IST
       
       
      26 Aug, 2025 12:21
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      Dolat Capital Market's research report on Indian Bank

      Indian Bank reported NII and PPoP growth of 31% and 10% YoY respectively on a merged basis, in line with expectations. Pro-forma Gross NPAs were marginally higher at 10.38% against 10.2% in the previous quarter, with pro forma PCR at 69%. The bank has made provisions of 20% against standstill NPAs.

      Outlook

      Valuing the bank at 0.7x Sep-22E P/ABV, implying a TP of Rs 130, we upgrade the stock to BUY from ACCUMULATE against a RoA of 0.6%/0.8% for FY22E/23E. The stock currently trades at 0.4x Sep22E PABV and has underperformed relative to the rest of PSU pack.

      For all recommendations report, click hereDisclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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      Broker Research
      first published: Jan 27, 2021 03:05 pm

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